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In a time study of a manufacturing operation, the average time to complete a product was 36.5 minutes, the performance rating was 1.20, and the allowances were 60 minutes per eight-hour shift.
a. Compute a labor standard for the operation.
b. How many products per eight-hour shift should an experienced operator be expected to produce under ordinary operating conditions.
c. If the labor rate is $15 per hour, what should the accounting department use as the standard labor cost per product?
Your final paper consists of the best practices you have learned to manage the procurement and contract cycle. Please see the course project description for additional details about the overall project.
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How much does the airport need to set aside now to pay for these costs, if the company can earn 10% per year, compounded every 4 months?
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